Can't rename the keyboard layout made in MSKLC

You need to edit the .klc file manually with a text editor, because there's no way to edit the name that displays from within the MSKLC program, unfortunately, for this feature was mistakenly not coded into the app. Therefore,

1. Uninstall the previous keyboard you have installed in Windows
2. Right-click the .klc file, open it with a text editor.
3. Search for the old name that you wanted to update (it was located near the end of the .klc file in my case).
4. Just edit that old name and nothing else in the file, then save the file.
5. Open the .klc file in MSKLC, check Project > "Properties..." to see if the metadata is all correct. In particular, there should be no spaces in the Name field, or the keyboard will not build (the potential error will be logged in the log file during validation before building).
6. Build the keyboard (Project > Build DLL and Setup Package). Install the setup file that was created.

The name should be updated now, God willing.